The impact that your decisions as a corporate real estate leader have on the global business results are enormous. Your decisions directly influence the well-being and productivity of all company employees and have a large effect on the companies’ global value. Workplace technology can help you have a company-wide impact and lift your organization as a whole. Curious? Let’s dive in.
1. Increasing global employee productivity
Research shows that only 60% of employees worldwide agree that their workspace allows them to work productively.
On a day to day basis, employees are often hold down in their productivity by the following limitations:
- The lack of a suitable workplace at home or in the office;
- Lack of workplaces to organize hybrid meetings;
- Spending too much time booking meeting rooms;
- Finding rooms to do individual focus work;
- Keeping a healthy work-life balance.
Companies that embrace workplace technologies eliminate these frustrations for their employees. Moreover, they make their employees feel supported and empowered to make their own decisions. This increased sense of autonomy reinforces positivity throughout the entire workday.
2. Minimizing occupancy costs
Commercial real estate is undergoing a dramatic shift. On top of that, on average 40% of corporate real estate is underutilized. Real estate often contains 10% or more of the total costs of a business. If a large part of your portfolio consists of offices in expensive cities like Singapore, Hong Kong, and New York, that percentage could be even higher.
When you succeed to improve the occupancy rates in your offices by one percent the effects can be big.
With workplace technology, it becomes easier than ever to improve those occupancy rates. With real-time dashboards, you will have direct insights in:
- Average meeting occupancy during the day;
- Peak occupancy rates;
- Meeting room trends;
- Ad-hoc meeting room demand;
- Number of no-shows;
- Most and least popular types of meeting rooms.
This allows you to identify the following:
- Potential problems and liabilities for investigation and improvement;
- Untapped potential of your buildings;
- Potential ‘good practices’ for other offices in the portfolio.
3. Strengthening company reputation
Certifications are a great way to show your business is going that extra mile for your employees and the environment. In the real estate sector, the two most known certificates are the WELL Building Standard ™ (WELL) and the Leadership in Energy and Environmental Design (LEED) certification. WELL is the leading tool for advancing health and well-being in buildings globally. LEED is the most widely used green building rating system in the world. Workplace technology plays an important role in getting these certificates for your organization.
4. Making your real estate portfolio future-proof
Your path to future-proofing your organization’s real estate portfolio begins with data. Insights that you gather in your current offices, can serve as insights to improve any office in the future. If you start experimenting and testing now, you can make data-driven decisions in the future. For example, if some of your offices are now used significantly less, you can think about investing in one of the other offices that you own or rent.
5. Winning the war for talent
To be the best company in your industry, you need the best talent that is working in your industry. The retain of talent is a problem for many organizations. In fact, Condeco study reveals it is one of the top-3 organizational challenges of modern businesses.
How can you win the best talents over in such a competitive reality? Simply offering the best contracts is no longer enough. The biggest talents today want to work for companies that are innovative and support a hybrid way of working. By implementing workplace technologies that support employees throughout their entire workday – either at home or in the office – you can improve employee well-being and win the war for talent.
Find out the potential of smart office technology
As a real estate leader, you are expected to make high impact business decisions on a wide variety of business activities from purchasing and selling real estate to improving your employees’ well-being. The choice to embrace workplace technology in your real estate can help you make more informed decisions on all these areas.
Contact us today to let one of our workplace experience advisors help you discover the potential of using smart office technologies in your real estate.